Nokia Corporation (NYSE:NOK) Given Average Recommendation of “Moderate Buy” by Brokerages

Nokia Corporation (NYSE:NOK) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $12.5671.

A number of research analysts have commented on the company. Danske raised Nokia from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Morgan Stanley reiterated an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Barclays reissued an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Finally, Northland Securities set a $20.00 price target on Nokia in a report on Wednesday, June 3rd.

Hedge Funds Weigh In On Nokia

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its stake in Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after buying an additional 2,721 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Nokia by 33,457.1% in the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock valued at $30,000 after acquiring an additional 4,684 shares in the last quarter. Dorato Capital Management acquired a new position in Nokia in the 4th quarter worth approximately $31,000. Smithfield Trust Co purchased a new position in Nokia during the 4th quarter worth approximately $35,000. Finally, Wexford Capital LP purchased a new stake in shares of Nokia in the third quarter valued at $29,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Stock Performance

Shares of Nokia stock opened at $12.06 on Friday. The firm has a market cap of $69.25 billion, a PE ratio of 75.38, a price-to-earnings-growth ratio of 2.36 and a beta of 1.17. The firm’s 50-day simple moving average is $13.84 and its 200-day simple moving average is $9.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.57. Nokia has a 1 year low of $4.00 and a 1 year high of $17.45.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The business had revenue of $5.21 billion during the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. Equities analysts forecast that Nokia will post 0.4 earnings per share for the current fiscal year.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.